Ford to sell Volvo to Chinese car-maker Geely
Thursday, December 24th, 2009Ford has announced the sale of its Volvo subsidiary to Chinese car-maker Geely for about 2 billion US dollars (approx £1.25bn).
With Ford having also sold Aston Martin, Jaguar and Land Rover over the past three years that leaves the Detroit based car maker with three core brands, Ford, Lincoln and Mercury.
The deal is likely to be completed in the first quarter of 2010.